finished ch 21 quiz BUDGETS - 1[CMA Adapted Flexible budgets A accommodate changes in the inflation rate B accommodate changes in activity levels C are

finished ch 21 quiz BUDGETS - 1[CMA Adapted Flexible...

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1.[CMA Adapted] Flexible budgetsA) accommodate changes in the inflation rate.B) accommodate changes in activity levels.C) are used to evaluate capacity utilization.D) are static budgets that have been revised for changes in price(s).Table for Individual Question FeedbackCorrect Answer(s):B2.[CMA Adapted] The following information is available for the Gabriel Products Company for the month of July:Static BudgetActualUnits5,0005,100Sales revenue$60,000$58,650Variable manufacturing costs$15,000$16,320Fixed manufacturing costs$18,000$17,000Variable marketing & administrative expense$10,000$10,500Fixed marketing & administrative expense$12,000$11,000Question: The total sales-volume variance for the month of July would be:3.[CMA Adapted] Bartholomew Corporation’s master budget calls for the production of 6,000 units of product monthly. The master budget includes indirect labor of $396,000 annually; Bartholomew considers indirect labor to be a variable cost. During the month of September, 5,600 units of product were produced, and indirect labor costs of $30,970 were incurred. A performance report utilizing flexible budgeting would report a flexible budget variance for indirectlabor of

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